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* Tribune…
The Illinois Senate on Monday easily approved Mayor Rahm Emanuel’s plan to shore up two city worker pension funds, but the measure faces an uncertain future now that it’s headed to a skeptical Gov. Bruce Rauner.
The mayor’s bill is aimed at preventing retirement systems for municipal workers and laborers from going broke in about a decade. The two funds are a combined $21 billion short of what’s needed to pay out future benefits, and the plan relies on newly hired employees paying more toward their retirement.
The House approved the bill 91-16 last month, and on Monday the Senate followed suit, 41-0. But the Rauner administration, which is seeking a broader deal to cut costs in state worker pension systems, responded Monday by throwing some cold water on the plan.
“The governor cannot support this bill without real pension reform that protects taxpayers,” Rauner spokeswoman Catherine Kelly said in a statement.
* And then things got heated. Sun-Times…
“Bruce Rauner is Governor Gridlock, and he is showing why nothing gets done in Springfield,” [Emanuel’s communications director Adam Collins] wrote.
“The bill to affirm our plan to save the last two city pensions enjoyed overwhelming bipartisan support in both houses. It passed 41-0 in the Senate and 91-16 in the House, both veto proof majorities. Instead of spending his time figuring out how to stop us from fixing our pensions, the governor should focus on passing a budget and fixing his own.” […]
“The Chicago machine created the pension mess and now wants the state to green light another hike on Chicago taxpayers,” said Lance Trover, Rauner’s deputy chief of staff for communications. “That might work for Mike Madigan and Rahm Emanuel but it’s unfair to Chicago homeowners. Madigan’s Mayor has already cost Chicago taxpayers too much.”
If Rauner waits to veto the measure until the lame duck session is over, the bill will die. New members sworn in Tuesday wouldn’t have the authority to overturn it.
Sheesh.
posted by Rich Miller
Tuesday, Jan 10, 17 @ 8:57 am
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The taxes have already be raised in Chicago and will stay in place regardless if this bill becomes law. The bill puts the funds on an ARC for the first time and requires new employees to pay more. This is reform, Lance. But you already knew that.
Comment by LITE Tuesday, Jan 10, 17 @ 9:04 am
===“The governor cannot support this bill without real pension reform that protects taxpayers,” Rauner spokeswoman Catherine Kelly said in a statement===
Oh “ck”, those that have protected pensions are taxpayers too. You’re not even trying “ck”
===“The Chicago machine created the pension mess and now wants the state to green light another hike on Chicago taxpayers,” said Lance Trover, Rauner’s deputy chief of staff for communications. “That might work for Mike Madigan and Rahm Emanuel but it’s unfair to Chicago homeowners. Madigan’s Mayor has already cost Chicago taxpayers too much.”===
There was a time, before the childish trolling of GA members and before the ignorance that passes as actual political speaking for this governor that Lance had a real talent and knack for this. Even Mike Lawrence said so.
“Madigan’s Mayor”
Geez Louise, Lance, your “Boss” vacationed with Rahm.
It’s actually sad how far Lance has fallen in actuality.
I’m not mad that Lance has trivialized himself, made himself a caricature. I’m just disappointed.
Comment by Oswego Willy Tuesday, Jan 10, 17 @ 9:07 am
Nice to see some sort of easy to latch onto messaging from the blue side! ‘Governor Gridlock’ is a start -
Comment by doofusguy Tuesday, Jan 10, 17 @ 9:11 am
Governor Grift is an even better moniker.
ɡrift/
verb
1.
engage in petty swindling.
noun
1.
a petty swindle.
Comment by Handle Bar Mustache Tuesday, Jan 10, 17 @ 9:15 am
These “insults” are largely phony to help each of these loathsome politicians shore up their base. In private email, Rahm revealed it when he told the Governor that he loves him.
Comment by Michael Westen Tuesday, Jan 10, 17 @ 9:17 am
Their bromance could probably only exist in a bubble where Bruce Rauner was an out of touch rich guy sending rant filled emails to dozens and not where Bruce Rauner is an out of touch Governor spending millions to have the Republican party send rant filled mailers and emails.
Comment by Anon Tuesday, Jan 10, 17 @ 9:19 am
===These “insults” are largely phony to help each of these loathsome politicians shore up their base. In private email, Rahm revealed it when he told the Governor that he loves him.===
… which is why Lance is so disappointing, and why “ck” continues to lack.
Head scratcher.
Comment by Oswego Willy Tuesday, Jan 10, 17 @ 9:20 am
“Only the Sith deal in absolutes”.
Only Rauner’s way will suffice.
Comment by Chicago 20 Tuesday, Jan 10, 17 @ 9:31 am
There’s that word again, “reform” let us call it what it is “cut or reduction” not reform.
Comment by Paleghost1 Tuesday, Jan 10, 17 @ 9:31 am
Governor Grift likes public pension money - for himself:
Like other private-equity firms…GTCR has raised a significant portion of its money, perhaps the largest percentage, from public pension funds. They supplied half to two-thirds of the firm’s funds, by Mr. Rauner’s estimate.
( http://www.chicagobusiness.com/article/20130406/ISSUE01/304069983/rauners-love-hate-relationship-with-pension-funds )
Comment by Handle Bar Mustache Tuesday, Jan 10, 17 @ 9:31 am
Governor Grift gets guys like Stu Levine…
“Levine had had a $25,000-a-month contract “consulting” for CompBenefits Corp. [which] was owned by four private-equity firms, including GTCR …Levine said his job was to get work for CompBenefits through whatever means were needed, including payoffs … Rauner, GTCR and Stu Levine had another interaction. That came in 2003, when the board of the Illinois Teachers’ Retirement System —on which Mr. Levine served— first tabled and then approved GTCR’s bid to get a $50 million investment from the giant pension fund.”
( http://www.chicagobusiness.com/article/20130309/ISSUE05/303099981/rauners-gtcr-investments-raise-questions-about-political-connections )
Comment by Handle Bar Mustache Tuesday, Jan 10, 17 @ 9:32 am
=== “The Chicago machine created the pension mess and now wants the state to green light another hike on Chicago taxpayers,” said Lance Trover ===
Isn’t Rauner throwing Republican legislators who voted for this bill under the bus? Can’t they be accused of voting for a “green light for a hike” on taxpayers? That’s what their party leader says, after all.
Comment by Anon Tuesday, Jan 10, 17 @ 9:39 am
===Can’t they be accused of voting for a “green light for a hike” on taxpayers?===
Sure, but only one of them represents the city.
Comment by Rich Miller Tuesday, Jan 10, 17 @ 9:52 am
Why do we need a fund balance today to pay all future payments
That’s like me saying my monthly bills are $2,000 so I am currently in the whole for $240,000. And should sent aside that much money right now
Comment by Publius Tuesday, Jan 10, 17 @ 9:56 am
Unless Illinois residents start seeing a reduction in property tax rates in line with other States, Illinois will keep losing us. Things will only get worse for Illinois because too many live off this system of excess.
Comment by MovingToMO Tuesday, Jan 10, 17 @ 11:15 am
This isn’t childish or anything…
Comment by Boone's is Back Tuesday, Jan 10, 17 @ 11:27 am
–These “insults” are largely phony to help each of these loathsome politicians shore up their base.–
Of course, it’s a gag.
Comment by wordslinger Tuesday, Jan 10, 17 @ 1:38 pm
It may not be a great idea to wait around to find out what “real pension reform” is able to stand up to legal challenges.
MEABF is in a downward death spiral and could probably be out of money in 5 years if market conditions are unfavorable.
http://meabf.org/assets/pdfs/pubs/Actuarial_Valuation_12-31-2015.pdf
“As a result of the benefit and funding changes in Public Act 98-0641 being revoked, the Fund is in imminent danger of insolvency. Without increased funding, the Fund is projected to become insolvent within the next 10 years (during 2025).”
Comment by Name/Nickname/Anon Tuesday, Jan 10, 17 @ 2:29 pm
=Unless Illinois residents start seeing a reduction in property tax rates in line with other States,=
Then we have to raise income tax rates, enact county income tax, and raise sales tax, expand sales taxes to services, and tax retirement income to “be in line with states around us”.
GOOD. BYE.
Comment by JS Mill Tuesday, Jan 10, 17 @ 3:37 pm
Is there any correlation between the governor not passing a budget and the doubling of his income in a year?
Comment by gdubya Wednesday, Jan 11, 17 @ 9:23 am